Cotton import bill goes up by 114pc

Amid falling local production, the cotton import bill swelled by 114 per cent in the first 10 months of FY25 compared to the last year. From July to April, the cotton import bill soared to $2.545 billion, compared to $1.189bn during the same period last year. According to data released by the State Bank, the significantly low cotton production has become a burden on the economy, particularly affecting exports. At the beginning of the current fiscal year, it was estimated that cotton imports would be around $1.9bn, but the frequent decline in lint production has increased the import bill. The country witnessed a record trade deficit in April. The rising cotton imports could jeopardise the country’s effort to keep the current account positive by the end of FY25. So far, the current account has a surplus of $1.88bn in 10MFY25.